China Unveils Carbon Trading Plan

11:50 AM MDT | July 24, 2007 | Ian Young

The Chinese government and the United Nations (UN) say they are planning to establish a carbon trading exchange in Beijing. The exchange would be a platform for trading in carbon dioxide (CO2) credits, and would be the first of its kind in the developing world. It would compete with exchanges in Europe and the U.S. The Beijing project would cost an estimated $1.7 million over three years, the UN says. Carbon credits confer the right to emit CO2. Credits are issued by the UN under the Kyoto Protocol’s Clean Development Mechanism (CDM). Companies in developed...